(Finance) – New record for the Nasdaq Composite which exceeded the 17,000 point threshold for the first time. Afa from assist to purchases contributed to the performance of Nvidia .
The chip company’s stock set a record, surpassing the $1,100 mark for the first time. The tech giant is the best stock on the S&P 500 after the quarterly report.
At the moment there is an increase for Nvidia by 7.04%.
Comparing the performance of the stock with theS&P 100on a weekly basis, we notice that the chipmaker maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance +20.24%, compared to +0.38% of theS&P 100).
Signs of strengthening for the short-term trend with the most immediate resistance seen at 1,159.8 USD, with a support level controlling the current phase estimated at 1,109.2. The balanced bullish strength of Nvidia it is supported by the upward crossing of the 5-day moving average over the 34-day moving average. Due to the technical implications assumed, we should see a continuation of the bullish phase towards 1,210.3.